Equity benchmark indices ended flat after a volatile and range-bound session on June 10, while bears maintained a firm grip on market breadth. On the NSE, nearly 2,190 stocks declined against 802 advancing shares. The market is likely to witness further consolidation, with Monday's low serving as an important support level. Below are some short-term trading ideas to consider:

Vatsal Bhuva, Technical Analyst at LKP Securities

Concord Biotech | CMP: Rs 1,330.7

Concord Biotech has witnessed a falling trendline breakout on the daily chart, indicating a positive shift in its short-term price structure. Adding to the strength, the stock has closed above its 20-week SMA and continues to sustain above its key 20-day and 50-day moving averages on the daily timeframe.

Momentum indicators remain supportive, with the RSI making higher highs and higher lows while trading in a bullish crossover. Based on the current technical setup, the stock is expected to extend its upmove towards the Rs 1,380–1,385 zone, where its 50-week SMA is placed and is likely to act as the next resistance level.

Strategy: Buy

Target: Rs 1,385

Stop-Loss: Rs 1,285

Bank of Maharashtra | CMP: Rs 84.18

After delivering a rounding pattern breakout, Bank of Maharashtra entered a healthy consolidation phase at higher levels, indicating profit booking without disrupting the broader uptrend. In recent sessions, the stock has broken above its consolidation range, signalling renewed buying interest.

Further supporting the bullish outlook, the RSI has formed a hidden bullish divergence and moved into a bullish crossover, indicating a continuation of the prevailing trend after a brief pause.

The stock is also sustaining above its key short-term and long-term moving averages, reinforcing the positive setup. Based on the current price structure, the stock is expected to extend its upmove towards the Rs 88–91 zone, where the next resistance is placed.

Strategy: Buy

Target: Rs 91

Stop-Loss: Rs 80

Bajaj Finserv | CMP: Rs 1,664.2

Bajaj Finserv continues to exhibit a bearish price structure on the daily chart, characterised by a clear lower-top and lower-bottom formation. In recent sessions, the stock has witnessed a breakdown below its consolidation zone, indicating renewed selling pressure and a continuation of the prevailing downtrend.

Adding to the weakness, the stock is trading below its key 20-day and 50-day moving averages, which are acting as immediate resistance levels.

Momentum indicators further support the negative outlook, with the RSI forming lower highs and remaining in a bearish crossover. Based on the current technical setup, the stock is likely to retest its swing-low support near the 1,600 zone. Traders may consider initiating short positions by selling June Futures in the Rs 1,671–1,675 range, with a strict stop-loss above Rs 1,710.

Strategy: Sell

Target: Rs 1,610

Stop-Loss: Rs 1,710

Sudeep Shah, Head - Technical and Derivatives Research at SBI Securities

Jindal Steel | CMP: Rs 1,121.1

Jindal Steel is exhibiting clear signs of technical weakness after breaking below its upward-sloping trendline on the daily chart, indicating a potential shift in trend.

Momentum indicators continue to favour the bears, with the RSI slipping below 40 and remaining on a downward trajectory, reflecting increasing selling pressure.

The rising ADX suggests that the prevailing downtrend is gaining strength, while the MACD trading below both the zero line and the signal line further reinforces the negative outlook. The stock is currently hovering near its crucial 200-day EMA support. A decisive and sustained breakdown below this level could trigger fresh selling, opening the door for an extended phase of weakness in the sessions ahead.

Hence, selling is recommended in the stock in the Rs 1,125–1,115 zone, with a stop-loss at Rs 1,155. On the downside, the stock is likely to test the Rs 1,040 level in the short term.

Strategy: Sell

Target: Rs 1,040

Stop-Loss: Rs 1,155

Axis Bank | CMP: Rs 1,314.5

Axis Bank is showing encouraging signs of a potential bullish breakout as it approaches the neckline of a double-bottom formation on the daily chart. The stock has already gained nearly 7 percent after finding strong support at its 200-day EMA just seven sessions ago, backed by a healthy rise in trading volumes.

Momentum indicators remain favourable, with the RSI steadily rising towards 60, reflecting strengthening buying interest.

Further supporting the bullish outlook, the DI has crossed above the DI- on the ADX indicator, signalling increasing buyer dominance. Moreover, the ratio line breaking out in the Axis Bank/Nifty ratio chart suggests that the stock is positioned to outperform the benchmark in the near term.

Hence, buying is recommended in the stock in the Rs 1,320–1,310 zone, with a stop-loss at Rs 1,270. On the upside, the stock is likely to test the Rs 1,410 level in the short term.

Strategy: Buy

Target: Rs 1,410

Stop-Loss: Rs 1,270

Vaishali Patel, Deputy Manager - Research- Technical Department at Jainam

Tamilnad Mercantile Bank | CMP: Rs 774.6

Tamilnad Mercantile Bank is showing bullish technical strength and appears to have completed a Cup and Handle breakout pattern. The recent price action reflects a series of higher lows, highlighting steady demand on every decline and indicating that buyers are gradually gaining control.

The breakout has been supported by improving relative strength compared to the broader banking space, suggesting that the stock is beginning to outperform its peers. The RSI is gradually trending higher and remains above the neutral zone, indicating improving momentum.

Strategy: Buy

Target: Rs 810

Stop-Loss: Rs 749

Aegis Logistics | CMP: Rs 801

Aegis Logistics is exhibiting a strong technical setup after emerging from a prolonged consolidation phase. The stock has witnessed renewed buying interest and is gradually resuming its primary uptrend, supported by improving price action and positive sectoral momentum. The recent breakout above its consolidation range indicates a shift in sentiment in favour of the bulls.

Volume activity has picked up during advances, further validating the strength of the ongoing move. Moving averages are flattening and beginning to turn upward, which is often an early sign of trend resumption.

Strategy: Buy

Target: Rs 845

Stop-Loss: Rs 769

Raymond | CMP: Rs 552.9

The recent price action suggests that Raymond is undergoing a healthy consolidation near higher levels rather than a meaningful correction. The formation of higher highs and higher lows on the daily chart reflects sustained demand and reinforces the positive market structure.

Dips towards upward trendline support zones are being bought into, highlighting bullish strength in the stock's medium-term prospects.

Momentum indicators remain supportive of the ongoing uptrend. The RSI is trending in bullish territory and continues to hold above the neutral mark, signalling improving strength in price momentum. The stock has also maintained its position above key moving averages, further strengthening the bullish outlook.

Strategy: Buy

Target: Rs 590

Stop-Loss: Rs 524